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Infosys Q3 results: Net profit up 16.6% YoY to Rs 5,197 crore
New Delhi: Infosys on January 13 posted a 16.6% rise in consolidated net profit at Rs 5,197 crore for the December 2020 quarter, and increased its revenue growth guidance for FY21 to 4.5-5% on the back of large project wins and strong deal pipeline. The Bengaluru-based company had registered a net profit (after minority interest) […]
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Elon Musk’s Tesla registers unit in India
New Delhi: Tesla has registered its Indian arm amid indications that the company is set to enter the country’s automobile market. According to a regulatory filing, the firm has registered Tesla India Motors and Energy Pvt Ltd with RoC Bangalore. The company has been registered as an unlisted private entity with a paid up capital […]
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Paytm Money to offer F&O trading, eyes daily turnover of Rs 1.5 lakh crore in next 18-24 months
New Delhi: Paytm Money on January 13 said it will provide Futures & Options trading (F&O) on its platform. Given the limited penetration of stock investments in the country, Paytm sees a high growth trajectory for its stocks broking offering, similar to its mutual fund offerings, Paytm founder and CEO Vijay Shekhar Sharma said. Paytm […]
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Razorpay says tier-II, III cities main drivers of online transactions in 2020
New Delhi: Online transactions grew 80 per cent in 2020 over the previous years, driven by strong adoption of digital transactions in tier-II and III cities, according to a report by fintech firm Razorpay. The report pointed out that UPI transactions outgrew cards, net banking and wallets with 120 percent growth in 2020. Razorpay said […]
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Mount honest attempts to settle litigation for revenues in FY22, avoid new taxes in Budget: SBI report
Mumbai: SBI economists have pitched for avoiding new taxes and urged the government to settle past litigations. “There must not be any new taxes in the Budget. Let us have a tax holiday budget, with carefully crafted policies for immediate fiscal lubrication. A gamechanger in the budget could be an honest attempt to settle cases […]
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Trust AMC launches maiden mutual fund
New Delhi: Trust Asset Management Company on January 12 announced the launch of its maiden mutual fund. | The new fund offer (NFO), Trust MF Banking & PSU Debt Fund, is an open-ended debt scheme predominantly investing in debt instruments of banks, public sector undertakings, public financial institutions and municipal bonds. The NFO will open […]
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I-T returns: Income Tax Department says 5% more returns filed this year
New Delhi: Income tax returns filed this year have risen by about 5 percent to nearly 6 crore, the I-T Department said. Over 5.95 crore income tax returns (ITRs) for the fiscal year ended March 31, 2020 (2019-20) were filed by January 10. The ITR filing deadline for individuals ended on January 10 while for […]
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IBM receives record 9,130 US patents in 2020; India second-highest contributor
New Delhi: Tech giant IBM on Tuesday said it has received 9,130 US patents in 2020 — topping the US Patent List for the 28th consecutive year — with India being the second-highest contributor. “IBM scientists and researchers received 9,130 US patents in 2020,marking 28 consecutive years of IBM patent leadership,” IBM said. IBM India […]
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Domestic hospitality industry to contract by 65% in FY21: Icra
Mumbai: The domestic hospitality industry is likely to witness a decline of over 65 percent in 2020-21, according to a report. There may be a recovery in demand in the later part of financial year 2021-22 as vaccine rollouts gains traction, it said. In a report, rating agency Icra said it expects the industry to […]
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India urges WTO members to find permanent solution for public stock holding for food security
New Delhi: India on Friday urged members of the World Trade Organization (WTO) to work on finding a permanent solution to the issue of public stock holding for food security purposes. Commerce Secretary Anup Wadhawan said COVID-19 has again brought to the fore the importance of food and livelihood security. He “urged the Membership for […]
